- Thread starter
- #21
- 1,912
How much more per lead do you charge above your cost for RGI leads?
IMOs Who Also Sell Leads...
- Thread starter NSRH
- Start date
-
- Tags
- insurance leads
How much more per lead do you charge above your cost for RGI leads?
- 17,073
We buy them for 32 cents per ton. We sell them for 90 dollars per ounce. That's why we do the mass pyramid recruiting so we have more warm bodies to sell leads to. No one cares if anyone ever sells an insurance policy. The big bucks are in the leads!
Opps! Now Ramiz knows the secret sauce! The jig is up!
Sure they would if they had a high enough overwrite to make it profitable. They are simply using a different business model. Either way the agent pays for their leads.
- 30,589
If you were selling a more competitively priced product, you might not have to worry so much about being replaced.
Do you have an example of a "replacement artist"? Are there any on here that you know of?
- 30,589
No, you don't sell leads.
You give them away for what...50-75% of their commissions......
DigitalBGA.com
Super Genius
- 107
How is it a conflict of interest? We don't make but maybe $1 a lead on a good day, some days we lose money. I don't see how that is a conflict of interest when our leads feed hundreds of families across the US. Agents rely on our leads to make a living and are making great money selling 100% by phone from anywhere with an internet connection. I can see why an agency would mark up leads though to turn a profit. 60-80% of agents fail, and no revenue was generated by them in sales, so they generate that revenue in lead sales.
We currently have 2 lead types:
1. Facebook lead ads. These go for $7, but we are nothing like what most agencies are promoting or courses are claiming you can generate for $2-3. We don't use the tacky "Govt benefit" type language that most do. We 100% focus the copy on life insurance, burial insurance, get quotes, see if you qualify at X rate etc. This drives up our CPL, but also drives up quality and buyer intent. We also get the client off FB, and onto a landing page explaining the process and why they need to answer the phone with their agent calls.
2. Organic and long form leads. These go for $11, and are consumers that hit our landing pages and complete a form, get a quote and go thru a pre-qualification process. These are very high intent leads and agents can't get enough of them.
Lastly, YTD we've lost right at $80k generating leads for agents, but we make up for it in overrides. The loss is excess leads generated in a day in states we have no coverage, fluctuations in online marketing costs, etc. Agents on their own can rarely match what we do on their own by generating their own leads at scale and quality.
Final Expense Leads
We currently have 2 lead types:
1. Facebook lead ads. These go for $7, but we are nothing like what most agencies are promoting or courses are claiming you can generate for $2-3. We don't use the tacky "Govt benefit" type language that most do. We 100% focus the copy on life insurance, burial insurance, get quotes, see if you qualify at X rate etc. This drives up our CPL, but also drives up quality and buyer intent. We also get the client off FB, and onto a landing page explaining the process and why they need to answer the phone with their agent calls.
2. Organic and long form leads. These go for $11, and are consumers that hit our landing pages and complete a form, get a quote and go thru a pre-qualification process. These are very high intent leads and agents can't get enough of them.
Lastly, YTD we've lost right at $80k generating leads for agents, but we make up for it in overrides. The loss is excess leads generated in a day in states we have no coverage, fluctuations in online marketing costs, etc. Agents on their own can rarely match what we do on their own by generating their own leads at scale and quality.
Final Expense Leads
- Thread starter
- #27
- 1,912
If you lost 80k this year on marketing, then you're not "selling leads at a profit".
I firmly believe that many IMOs who are buying leads from a vendor and marking them up or getting a discount are not being upfront and honest with their agents.
I also believe that IMOs should have some skin in the game and be financially invested (in some way) with their agents.
DigitalBGA.com
Super Genius
- 107
We do this as a value added service on top of our free tech, our free training, our conservation team etc. We make money in overrides only and this is our strategy to scale. Probably not the best business decision, but one we stand by because agents already struggle enough...why throw a $20 FE lead at them when it can be $7 or $11.
My point was I don't view it as a conflict if an IMO wanted to make money this way. I will add to that though, I don't have a problem with them profiting from leads as long as they generated them themselves. Buying leads from a 3rd party though, then marking them up to their own agents is something I would definitely frown upon.
Why ? It is the same either way... If they generate their own lead for $5 and sell it for $10 is no difference than buying from a third party at $8 and selling for $10... As long as the agent knows what the lead is costing up front and is willing to pay it, there is no one being harmed.. If I buy a lead from someone, it is non of my business what they paid for it.. My only concern should be what I pay for it.
- 5,973
That right there ought to tell anyone looking at telesales who to call first. I know who I'd contract with if I wanted to telesales.
I also know who I'd stay as far from as possible.
